Asset management strategies using reliability, availability, and maintainability (RAM) analysis

Author(s):  
Maria Valentina Clavijo Mesa ◽  
Carmen Elena Patino-Rodriguez ◽  
Fernando Jesus Guevara Carazas ◽  
Indra Gunawan ◽  
Enrique López Droguett
2007 ◽  
Vol 2 (2) ◽  
Author(s):  
S.E. Walters ◽  
D. Savic ◽  
R.J. Hocking

The water industry over the years has primarily focussed on upgrading and investing in clean water provision. However, as research into the science and management of clean water services has progressed rapidly, wastewater provision and services has been slower. Focus, though, is now shifting within Industry and Research into wastewater services. The water regulator, Ofwat, for England and Wales demands the Sewerage Undertakers demonstrate efficient management of wastewater systems in order to obtain funding for Capital Investment projects. South West Water, a Water Service Provider and Sewerage Undertaker located in the South West of England, identified a need gap in their asset management strategies for wastewater catchments. This paper will introduce the production of a Decision Support Tool, DST, to help SWW proactively manage their Wastewater Catchments, examining Sewage Treatment Works, Pumping Stations and Networks. The paper will discuss some concepts within the DST, its production, testing and a brief case study. The DST provides a framework for prioritising catchments to optimise investment choices and actions. The Tool ranks catchments utilising Compromise Programming, CP, as well as AHP Pair-wise comparisons for preference weights. The DST incorporates Asset models, a Whole life Costing Module, as well as a Decay and Intervention Module.


2019 ◽  
Vol 49 (2) ◽  
pp. 424-447
Author(s):  
Zvika Afik ◽  
Simon Benninga ◽  
Hagai Katz

Today’s uncertain financial markets could affect foundations’ future grantmaking capacities. We review foundations’ financial decision-making patterns and their effect on foundations’ assets, longevity goals, and payouts. Using three fictional foundations with different longevity goals and grantmaking preferences, we demonstrate the delicate balance and tight nexus between asset management strategies, payout rates, and longevity. To do so, we perform stochastic Monte Carlo simulations of multiple foundation life cycles, conducted under diverse capital market scenarios. The findings suggest that foundations should (a) readjust their return expectations to today’s less favorable markets; (b) reduce their reliance on past portfolios’ investment returns or unique “success stories” in making decisions; (c) appreciate the strong interdependence between portfolio-mix, payout rates, and longevity; (d) consider effects of their particular mission/problem area on these parameters; and (e) use tailored projection analyses that simulate various investment strategies, payouts rates, and longevity to meet their grantmaking goals.


Author(s):  
Sara Moridpour ◽  
Ehsan Mazloumi ◽  
Reyhaneh Hesami

The increase in number of passengers and tramcars will wear down existing rail structures faster. This is forcing the rail infrastructure asset owners to incorporate asset management strategies to reduce total operating cost of maintenance whilst improving safety and performance. Analysing track geometry defects is critical to plan a proactive maintenance strategy in short and long term. Repairing and maintaining the correctly selected tram tracks can effectively reduce the cost of maintenance operations. The main contribution of this chapter is to explore the factors influencing the degradation of tram tracks (light rail tracks) using existing geometric data, inspection data, load data and repair data. This chapter also presents an Artificial Neural Networks (ANN) model to predict the degradation of tram tracks. Predicting the degradation of tram tracks will assist in understanding the maintenance needs of tram system and reduce the operating costs of the system.


Facilities ◽  
2015 ◽  
Vol 33 (11/12) ◽  
pp. 701-715 ◽  
Author(s):  
Keith Jones ◽  
Api Desai ◽  
Mark Mulville ◽  
Aled Jones

Purpose – The purpose of this paper is to present an alternative approach to facilities and built asset management adaptation planning to climate change based on a hybrid backcasting/forecasting model. Backcasting envisions a future state and examines alternative “pathways of approach” by looking backwards from the future state to the present day. Each pathway is examined in turn to identify interventions required for that pathway to achieve the future state. Each pathway is reviewed using forecasting tools and the most appropriate is selected. This paper describes the application of this approach to the integration of climate change adaptation plans into facilities and built asset management. Design/methodology/approach – The researchers worked with various stakeholders as part of a participatory research team to identify climate change adaptations that may be required to ensure the continued performance of a new educational building over its life cycle. The team identified 2020, 2040 and 2080 year end-goals and assessed alternative pathways of approach. The most appropriate pathways were integrated into the facilities and built asset management plan. Findings – The paper outlines a conceptual framework for formulating long term facilities and built asset management strategies to address adaptation to climate change. Research limitations/implications – The conceptual framework is validated by a single research case study, and further examples are needed to ensure validity of the approach in different facilities management contexts. Originality/value – This is the first paper to explore backcasting principles as part of facilities and built asset management planning.


2017 ◽  
Vol 35 (5) ◽  
pp. 488-500 ◽  
Author(s):  
Nico Nieboer

Purpose Recent findings from a monitor containing around 1.5 million homes in the Dutch non-profit rental sector show that the improvement of the energy performance of the respective homes is mostly carried out in small steps: single measures per dwelling dominate and deep energy renovations are rare. From the way in which housing providers conceive and implement their portfolio and asset management strategies, the purpose of this paper is to explain for the dominance of the small interventions and investigate the argument for a more concentrated allocation of budget resources. Design/methodology/approach In total, 12 housing providers with different energy investment policies were selected and interviewed. Findings Results show that energy investments, as most other investments, must fit in regular investment schemes and have to follow general decision criteria such as the lifespan of the respective building element and the market position of the respective dwelling. As these schemes are limited in budget and time, the room for a more concentrated allocation of budget resources is small. Research limitations/implications The number of organisations interviewed is obviously not statistically representative, but gives a good indication of the investment planning practice in the Dutch non-profit housing sector. Originality/value Much has been written about the (slow) progress of the energy performance in the housing sector, but not about the more structural organisational forces behind this progress.


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